Kwmg LLC increased its position in Westrock Company (NYSE:WRK) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,980 shares of the basic materials company’s stock after purchasing an additional 1,489 shares during the quarter. Kwmg LLC’s holdings in Westrock were worth $1,871,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. State of Alaska Department of Revenue lifted its holdings in Westrock by 27.5% during the second quarter. State of Alaska Department of Revenue now owns 15,936 shares of the basic materials company’s stock worth $902,000 after buying an additional 3,440 shares during the period. Mn Services Vermogensbeheer B.V. lifted its holdings in Westrock by 520.0% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 41,521 shares of the basic materials company’s stock worth $2,353,000 after buying an additional 34,824 shares during the period. Eqis Capital Management Inc. lifted its holdings in Westrock by 3.3% during the second quarter. Eqis Capital Management Inc. now owns 10,728 shares of the basic materials company’s stock worth $608,000 after buying an additional 342 shares during the period. LS Investment Advisors LLC lifted its holdings in Westrock by 3.1% during the second quarter. LS Investment Advisors LLC now owns 13,380 shares of the basic materials company’s stock worth $758,000 after buying an additional 406 shares during the period. Finally, Louisiana State Employees Retirement System lifted its holdings in Westrock by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 15,600 shares of the basic materials company’s stock worth $884,000 after buying an additional 200 shares during the period. 88.80% of the stock is currently owned by institutional investors.
In related news, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $60.74, for a total value of $628,233.82. Following the transaction, the director now directly owns 497,557 shares of the company’s stock, valued at approximately $30,221,612.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey Wayne Chalovich sold 18,368 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $58.41, for a total value of $1,072,874.88. Following the completion of the transaction, the insider now directly owns 24,859 shares in the company, valued at $1,452,014.19. The disclosure for this sale can be found here. Over the last three months, insiders sold 453,722 shares of company stock worth $25,585,382. 2.68% of the stock is owned by insiders.
Westrock (NYSE:WRK) last issued its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.81 by $0.06. Westrock had a return on equity of 6.73% and a net margin of 4.77%. The firm had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the prior year, the business posted $0.71 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. research analysts forecast that Westrock Company will post 3.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Friday, November 10th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.92%. This is an increase from Westrock’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, November 9th. Westrock’s dividend payout ratio is presently 62.09%.
A number of research firms have weighed in on WRK. Barclays PLC restated a “hold” rating on shares of Westrock in a report on Friday, November 10th. Stephens began coverage on Westrock in a report on Tuesday, October 24th. They set an “equal weight” rating and a $61.00 target price for the company. Zacks Investment Research lowered Westrock from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 7th. KeyCorp restated a “hold” rating on shares of Westrock in a report on Wednesday, October 11th. Finally, BidaskClub upgraded Westrock from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $65.09.
WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.
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